What Business Can I Start in Nigeria
Real estate is one of the businesses you can start in Nigeria that will give you massive returned on your investment.
There are several Businesses you can start in Nigeria, but if you're looking at building wealth that can be transferred to your generation, then real estate is the business that can help you achieve that.
Whether you're looking to build wealth, or have more sources of income in this new year, starting a real estate business can be a very good way to accomplish your goals.
11% of the mega-wealthy people, became wealthy by this investment.
The richest in the world have made their fortunes in many ways, but there is one common thread for many of them: They made real estate a core part of their investment strategy. Of all the ways the ultra-rich made their fortunes, real estate outpaced every other method 3 to 1.
Starting and operating a real estate business isn't easy, but if you're focused, dedicated, and work with an expert in this field, it can pay off. Whether you're still thinking about it or educating yourself on the process or ready to dive in now, this guide will help you understand how to start a real estate business, including the costs and steps, as well as ideas for the different types of real estate businesses you can pursue.
1. Choose a profession in the real estate business
There are a number of different real estate careers you can pursue in the real estate industry. You can own a real estate company that focuses on real estate investing or property management, or you can become a real estate broker or real estate agent. The type of business you choose to pursue will determine whether you need a real estate license to operate or you can simply create a real estate limited liability company (LLC) and start working.
Think about who you are as an individual, what your strengths and weaknesses are, and what business suits those traits best. If you're a great salesperson and enjoy talking with people, being a real estate agent or broker might be a good fit.
If you have strong managerial skills, are highly organized, or are detail-oriented, being a property manager might be a nice match. If you enjoy working with numbers or negotiating or have a good eye for improvements, becoming a real estate investor may be the way to go. Learn what's involved in each real estate career before developing a plan of action.
Determine what's needed to get your foot in the door and plan what you want to accomplish or do with your business.
If you want to focus on buying an investment property, decide whether you're focusing on commercial real estate, residential rental property, fix and flips, wholesaling.
2. Determine your business costs, which may include:
Office space.
Phone service.
Website design or hosting.
Marketing.
Licenses to legally operate your business.
Business equipment.
If you're a Nigerian in the United States, or you're a Nigerian living in Nigeria, and you're very busy, you might probably be thinking, " I just need a business that I can handle along, or I'm too busy with my first job or business I don't have the time to start up a company, "
If the above is your concern, I will recommend you start this real estate business on a small scale so it will be easy for you to manage. What I mean is this, you can start small by buying a land, build a house on it and rent it out. To see prices of some of our lands for sale, click here. Whenever your tenants wants to pay their house rents, you don't have to be there to collect the house rents, they can send it into your account.
Or you can hire a property manager (Care Taker) to help you handle this, if you have more questions concerning this, you can call me or send a message to me on WhatsApp.
3. Put your plan into action
This is where the majority of the hard work comes into play. It's where you put your plan into action, including:
- Opening a bank account.
- Creating a professional website.
- Getting a business phone number and email address.
- Marketing your services or business.
- Organizing and nurturing leads.
- Create a professional website
Even if you want to start as a real estate agent, you should have a website.
You can hire a website designer to create the page for you or if you're tech-savvy or feel like you're a quick learner, you can tackle creating your own website. There are several easy drag-and-drop website tools available to help people without website design backgrounds create their own site at a low cost.
Regardless of which direction you go, make sure your website looks professional, explains what you do, who you help, and reasons to work with you over competitors. The site should be visually appealing and, in several locations, provide your contact information or a method of contacting you.
For each target client, many real estate investment businesses have multiple websites or landing pages, which are used as lead capture forms. While it may not be necessary for your specific business, look into different software and website programs that cater to your business needs.
4. Your Marketing Plans
The next step is to market your services. Having an established marketing plan in place from the start is key. This can include attending networking or trade events, sharing your services on social media, creating a paid mail marketing campaign, running online ads, or a combination of these methods. But it's crucial you market your services.
It's a good idea to have multiple marketing ideas and campaigns prepared so that you can find innovative ways to reach new customers or clients. After all, you'll never get a potential sale if you don't market your services to potential clients.
How much does it cost to start a real estate business?
There is no perfect number for how much it costs to start a real estate business. The type of business you pursue and the state your company will operate out of will determine the upfront cost. You can check out the cost of some of our lands for sale here.
So this is one of the businesses you can start in Nigeria.
If you need someone to guild you in starting up this business, you can speak with me using my contact details above.
If you want to invest like the wealthiest in the world, we have a complete guide on what you need to take your first steps. Take the first step toward building real wealth by getting your free copy of our ebooks on real estate investing today worth $50. Simply send me a message to receive your free guide.
Have more questions? Drop your comment below.
Comments